Surcharge

Surcharge

Definition

In bankruptcy, an expense directly related to preserving or maintaining collateral that the trustee charges against the collateral, making the secured creditor’s claim subject to the surcharge. In trusts and estates, a surcharge is an amount the court requires a fiduciary to personally pay back to an estate or trust to cover excessive fees taken by the fiduciary, misappropriated funds, or losses resulting from imprudent investments.

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